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A new microfinance site just went live (Microplace) and it bears some similarity to Kiva, but with some important differences. I thought I’d outline those differences and point out that both offer an opportunity for ordinary people of privilege like ourselves to make a huge, sust
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1 year ago
1 year ago
I've recently returned from my own charitable mission (tuxedotravels.com) and have to say it's AMAZING how much can be accomplished for a surprisingly tiny amount in some of these places.
For example we bought fertilizer fofor an entire vietnamese village, shoes for an entire Kyrgyz orphanage and put a rehabilitated Nepalese sex-slave through school for a year - EACH FOR AROUND $100.
Of course there's MANY people that need help, but many hands make light work and it's wonderful to see organizations like KIVA and Microplace taking off!
Hooray for good people!
1 year ago
Another important distinction between Kiva.org and MicroPlace.org is that MicroPlace says it pays interest. I wish I new more about this, e.g. how much, but a very quick search of their site later, and I'm still left wondering. I must have missed something.
Does anyone know more about this?
1 year ago
As for the interest rates, you can see them on the right side of the listings for each individual project. They vary in term and rate, between 2 and 3 years and 1.5% and 3%, from what I've seen.